Common use of Annual Adjustments-to-Actual Clause in Contracts

Annual Adjustments-to-Actual. 8.18.1 Within sixty (60) days after completion of the audit for the preceding Fiscal Year, the Port shall recalculate the rates and charges as set forth in this Article 8 on the basis of actual Capital Costs and O&M Expenses, Airline activity and other factors affecting the prescribed calculations and shall determine the amount of any overpayment (credit) or underpayment (debit) due to or from Airline. Any resulting credit will be issued to Airline, and any resulting debit will be invoiced to and payable by Airline.

Appears in 5 contracts

Samples: Signatory Lease and Operating Agreement, Signatory Lease and Operating Agreement, Signatory Lease and Operating Agreement

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